Company registration number | |
for the year ended |
|
Cavendish Bond | |
Chartered Accountants | |
Bentinck House | |
3 - 8 Bolsover Street | |
London | |
W1W 6AB | |
Castletown Law Limited | ||||
Financial statements for the year ended 31 August 2023 | ||||
Chartered Accountants' report to the board of directors on the preparation of the unaudited financial statements of Castletown Law Limited for the year ended 31 August 2023 | ||||
In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the financial statements of Castletown Law Limited for the year ended 31 August 2023, which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us. | ||||
As a practising member firm of the Institute of Chartered Accountants in England and Wales we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. | ||||
This report is made solely to the Board of Directors of Castletown Law Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Castletown Law Limited and state those matters that we have agreed to state to the Board of Directors of Castletown Law Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Castletown Law Limited and its Board of Directors, as a body, for our work or for this report. | ||||
It is your duty to ensure that Castletown Law Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Castletown Law Limited. You consider that Castletown Law Limited is exempt from the statutory audit requirement for the year. | ||||
We have not been instructed to carry out an audit or a review of the financial statements of Castletown Law Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. | ||||
Cavendish Bond | ||||
Chartered Accountants | ||||
Bentinck House | ||||
3 - 8 Bolsover Street | ||||
London | ||||
W1W 6AB | ||||
20 March 2024 | ||||
Financial statements for the year ended |
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Balance Sheet | |||||||
Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
||||
Net current assets | |||||||
Total assets less current liabilities | |||||||
Provisions for liabilities | ( |
( |
|||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholder's funds | |||||||
These financial statements were approved by the board on |
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A L Renton | |||||||
Director | |||||||
Company registration number SC602269 | |||||||
Financial statements for the year ended |
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Notes to the Financial Statements | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Computer equipment | over 3 years | |||||||
Office furniture and equipment | over 5 years | |||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
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Provisions | ||||||||
Leased assets | ||||||||
The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Financial instruments | ||||||||
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument those financial instruments are classified as financial liabilities and are presented as such in the balance sheet. Where the contractual terms of financial instruments do not meet the definition of a financial liability those financial instruments are classified as equity instruments. Dividends and other distributions relating to equity instruments are debited direct to equity. |
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2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Computer equipment | Office furniture and equipment | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 September 2022 | ||||||||
Additions | - | |||||||
Disposals | ( |
- | ( |
|||||
At 31 August 2023 | ||||||||
Depreciation | ||||||||
At 1 September 2022 | ||||||||
Charge for the year | ||||||||
On disposals | ( |
- | ( |
|||||
At 31 August 2023 | ||||||||
Net book value | ||||||||
At 31 August 2023 | ||||||||
At 31 August 2022 | ||||||||
4 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Accrued income | 154,543 | 210,815 | ||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Taxes and social security costs | ||||||||
Other creditors | ||||||||
6 | Other financial commitments | 2023 | 2022 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases | ||||||||
7 | Other information | |||||||
Castletown Law Limited is a private company limited by shares and incorporated in Scotland. Its registered office is: | ||||||||
Forest Lodge | ||||||||
Gosford Road | ||||||||
Longniddry | ||||||||
East Lothian | ||||||||
Scotland | ||||||||
EH32 0LF |